Brokerage firm Canaccord Capital Inc. has priced its IPO at $100 million.

In its final prospectus filed Wednesday, the Vancouver-based firm said it is seeking to raise $100,000,005, selling 9,756,098 common shares at $10.25 per share; consisting of a new issue of 6,829,268 shares and a secondary offering of 2,926,830 shares being sold by certain shareholders of the company.

The selling shareholders have also granted the underwriters an over-allotment option, exercisable for 30 days, to purchase up to an additional 1,463,415 shares from them. If the underwriters exercise the option in full, the total deal will be worth $115,000,008, with $42,412,511 going to existing shareholders.

Manulife Financial Corp. subsidiary Manufacturers Life Insurance Co., which owns about 19.6% of the firm is the biggest single seller. It will sell about 1.66 million shares, taking its stake down to 13%, or 11.24% if the option is exercised. The firm’s founder, Peter Brown is taking his 5.9% stake to 4.7%, while legendary Vancouver business man James Pattison owns 1.6%, which would drop to 1.3%.

The company will receive net proceeds from the offering of about $64 million, which the company said it plans to use to expand its private client and capital markets operations, expand its online trading capability and its correspondent brokerage services operations, repay subordinated debt, as well as for future acquisitions and general working capital.

The firm currently has over 1,200 employees, including about 600 brokers. It generated $402 million in revenue and net income of $40 million in fiscal 2004. Ahead of the deal, net income per share is $1.03, after the offering it will be about 88¢, putting its P/E ratio at just under 12.

The deal is being underwritten by eight brokerages, which will split more than $6.6 million. CIBC World Markets Inc. , the lead underwiter, has been allocated to sell 35% of the shares; Canaccord Capital Corp., 23%; BMO Nesbitt Burns Inc., 13%; Scotia Capital Inc., 12%; RBC Dominion Securities Inc., 5%; GMP Securities Ltd., National Bank Financial Inc. and TD Securities Inc., 4% each.

The Toronto Stock Exchange has conditionally approved the listing of the shares under the symbol ‘‘CCI’’, subject to fulfilling all of the requirements of the TSX by Sept. 15.